IMES DISCUSSION PAPER SERIES INSTITUTE FOR MONETARY AND ECONOMIC STUDIES BANK OF JAPAN 103-8660 2-1-1 http://www.imes.boj.or.jp Discussion Paper No. 2008-J-24 IMES Discussion Paper Series 2008-J-24 2008 12 * ** EU 2007 11 EU payment institution EU EU SEPA SEPA EU JEL classification: G2 K2 * E-mail:akihiko.yoshimura@boj.or.jp ** E-mail: takeshi.shirakami@bis.org ....................................
